Seagate Technology (NASDAQ:STX) Stock Rating Upgraded by Zacks Research

Seagate Technology (NASDAQ:STX) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

STX has been the topic of several other reports. Sanford C. Bernstein boosted their target price on Seagate Technology from $275.00 to $370.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Loop Capital boosted their price objective on Seagate Technology from $465.00 to $700.00 and gave the stock a “buy” rating in a research note on Monday, February 9th. Morgan Stanley increased their target price on Seagate Technology from $337.00 to $372.00 and gave the stock an “overweight” rating in a report on Thursday, January 22nd. TD Cowen lifted their price target on Seagate Technology from $340.00 to $500.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. Finally, UBS Group increased their price objective on shares of Seagate Technology from $385.00 to $440.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $447.35.

Seagate Technology Price Performance

Shares of STX stock traded down $15.73 during trading hours on Tuesday, hitting $408.41. The company had a trading volume of 870,804 shares, compared to its average volume of 4,629,483. Seagate Technology has a 12 month low of $63.19 and a 12 month high of $459.84. The company has a debt-to-equity ratio of 7.63, a quick ratio of 0.72 and a current ratio of 1.12. The firm’s fifty day moving average is $343.44 and its 200 day moving average is $263.69. The firm has a market capitalization of $89.06 billion, a price-to-earnings ratio of 46.20, a PEG ratio of 0.93 and a beta of 1.62.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, January 27th. The data storage provider reported $3.11 EPS for the quarter, beating the consensus estimate of $2.77 by $0.34. Seagate Technology had a negative return on equity of 936.38% and a net margin of 19.59%.The business had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.73 billion. During the same quarter in the previous year, the firm earned $2.03 EPS. Seagate Technology’s quarterly revenue was up 21.5% on a year-over-year basis. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. On average, sell-side analysts predict that Seagate Technology will post 6.83 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Yolanda Lee Conyers sold 750 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $272.91, for a total value of $204,682.50. Following the transaction, the director directly owned 5,601 shares in the company, valued at $1,528,568.91. This trade represents a 11.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jay L. Geldmacher sold 925 shares of the stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $448.02, for a total value of $414,418.50. Following the completion of the transaction, the director directly owned 223 shares in the company, valued at $99,908.46. The trade was a 80.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 83,955 shares of company stock worth $29,925,749 over the last 90 days. 0.79% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in STX. National Pension Service raised its holdings in shares of Seagate Technology by 28.0% in the 3rd quarter. National Pension Service now owns 250,121 shares of the data storage provider’s stock worth $59,044,000 after acquiring an additional 54,722 shares during the last quarter. Vision Financial Markets LLC bought a new stake in Seagate Technology during the 2nd quarter worth approximately $173,000. Tokio Marine Asset Management Co. Ltd. purchased a new stake in shares of Seagate Technology in the third quarter worth approximately $1,864,000. Nordea Investment Management AB boosted its position in shares of Seagate Technology by 18.0% during the second quarter. Nordea Investment Management AB now owns 18,422 shares of the data storage provider’s stock valued at $2,632,000 after buying an additional 2,808 shares during the last quarter. Finally, Central Asset Investments & Management Holdings HK Ltd lifted its stake in Seagate Technology by 185.8% during the 2nd quarter. Central Asset Investments & Management Holdings HK Ltd now owns 18,734 shares of the data storage provider’s stock valued at $2,704,000 after acquiring an additional 12,178 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Seagate Technology Company Profile

Seagate Technology (NASDAQ: STX) is a global data storage company that designs, manufactures and sells a broad range of storage products and systems. The firm’s product portfolio includes traditional hard disk drives (HDDs), solid-state drives (SSDs), hybrid storage devices and integrated storage systems aimed at enterprise, cloud, OEM and consumer markets. Seagate also provides services that support its hardware offerings, including data recovery and storage management solutions.

Seagate’s products are used in a wide array of applications, from large-scale data centers and cloud infrastructure to desktop and portable consumer devices.